Senior Manager Natalie Mowrer, CPA, CCIFP®, provides financial and accounting services, tax planning, and consulting services including construction accounting, cash flow modeling, and financial projections to construction companies and leaders. She’s built a dedicated team of professionals focused on providing exemplary service to our clients. Here, Natalie explains how a strong partnership with trusted advisors can help construction company owners gain clarity and confidently navigate the evolving challenges affecting their business.
Q1: What are the biggest things you’re hearing from CEOs at your construction clients in Oregon right now?
Natalie Mowrer (NM): Construction owners are thinking about several things. There’s economic uncertainty associated with any election. For Oregon construction companies in particular, there are still some supply chain issues and price escalations, and, of course, attracting and retaining great employees.
On the tax and accounting front, owners also want to be sure there aren’t details they are overlooking or costs they’re not capturing that could lead to better profitability. And some want to know about transition planning. They’re considering retiring or selling in the next 5-10 years and they want to explore different options.
Q2: What are you hearing from construction owners about their outlook?
NM: Overall, construction clients are forward-looking. Performance is still strong and the economic report remains positive and the recent Fed rate cuts were a positive. However, in talking to the leaders at construction companies, we’ve seen a bit of caution. Construction owners want to be sure they’re able to manage against a range of challenges—if work slows or if a big project stalls or is canceled altogether. Clients are also looking at whether they’re too heavily concentrated in one stream of work or one type of entity they’re working for. They’re asking whether they can diversify a bit to protect or hedge against any rapid changes in the wake of the election.
Q3: Tax technical skills are at the core of what you do, but what else differentiates Aldrich in the way it works with construction company owners and CEOs?
NM: Serving construction clients means we need to have a deep knowledge of tax and construction, and also understanding of the goals for their business. Every industry has differences, of course, but construction really has its own language. It’s critical for construction owners to find advisors who understand the industry and are also focused on your business goals. Having trusted advisors puts you in the best position to grow—and to minimize issues along the way. and are also focused on your business goals. Having trusted advisors puts you in the best position to grow—and to minimize issues along the way.
For example, if you do any public works jobs, there are special considerations with payroll. You must have certified payroll and understand prevailing wage or union remittances. If you’re off in your reporting for projects in a prevailing wage job, it can turn into a significant cost, both in dollars and in time the owner and CFO might have to spend dealing with the issue.
We’re also constantly looking to learn from our construction clients so we can improve. Our clients absolutely make us better. They tell us where they want more from us in a really collaborative way. It lends itself to a great partnership in which we work alongside each other.
Q4: A lot of construction company owners are starting to think about what’s next for them. What are the key considerations construction owners should have when thinking about a transition?
NM: First, they’ll need to decide if they want to transition internally or externally. If they want to sell to an outside source, it can take a while, especially if no one’s approached them yet. And with external sales, typically buyers want the owner to stay on for several years to help maintain a smooth transition. Whether they’re transitioning internally or externally, we really like owners to think about it a few years before they’d want to retire.
We help clients plan their financial future and think about what’s next. For example, do you have external retirement set up with 401Ks and IRAs, or is retirement purely the equity you’ve built in your company? We work with the tax team to maximize tax benefits and make sure your company can thrive in the future. It’s exciting and rewarding to help clients achieve their transition goals.
Q5: Why did you choose Aldrich, and why did construction interest you?
NM: I started with an informational interview and the more I learned about Aldrich, the more impressed I was. I just loved the entrepreneurial spirit in a firm that’s also very team-oriented. It seemed like a great fit. I was offered an internship, which turned into a full-time position, and I’ve been here ever since. I started as a generalist, but after meeting some of the construction leaders here, I realized this was the right focus for me.
Q6: You recently were named a Daily Journal of Commerce (DJC) Oregon Woman of Vision, which celebrates women who shape the built environment and are creating opportunities for future generations of women. What does this award mean to you?
NM: It’s such a great honor. I’ve been fortunate to have wonderful leaders to look to as examples. From them, I’ve learned technical excellence and understanding of construction, but they’re leaders in their personal lives as well, which is wonderful.
What I love about Aldrich is the abundance mentality. Let’s bring everyone up with us. If we thrive and provide excellent service, there’s going to be plenty more to go around, and that will continue to happen. I try to do that with the people I get to work with as well—help them grow and learn and create more room at the top.
To learn more about how we can help your company navigate today’s industry challenges—and prepare for the future—reach out to Aldrich’s construction accounting team.
About Aldrich
The Aldrich Group of Companies includes a Top 100 Accounting Firm nationally providing tax, advisory, and consulting services to businesses and individuals. Working closely with businesses, business owners, and individuals, The Aldrich Group of Companies manages financial, wealth, tax, benefits, and business transition strategies. We serve clients with deep industry expertise in construction, manufacturing, healthcare, nonprofit, telecommunications, utilities, professional services, food processing, agribusiness, real estate, and a variety of privately held companies and individual clients. The Aldrich Group includes the following professional services firms: Aldrich CPAs + Advisors LLP, Aldrich Wealth LP, and Aldrich Advisors Capital LP.
